• Vasily Trader

GBPJPY: Sideways Market & Consolidation (Indecision)

⚠️GBPJPY is consolidating within a horizontal trading range on a daily.

140.0 - 140.5 is its resistance.

137.3 - 137.5 is its support.

The next strong swing move will most likely initiate only after a breakout of the range.

The side of the breakout will show the direction of the market.

🟢In case of a bullish breakout (daily candle close above),

next goal for buyers will be 141.8 level.

🔻In case of a bearish breakout (daily candle close below),

next goal for sellers will be 135.5 level.

Wait for a breakout, follow the market.